Kraft Heinz reported a second-quarter net loss of about $7.8 billion after booking a $9.3 billion non-cash impairment charge linked to the prolonged slide in its share price and weaker demand for some legacy brands. Still, revenue of roughly $6.35 billion exceeded analyst expectations, helped by resilient U.S. demand for core condiments and prepared meals, even as overall sales slipped 1.9% from a year earlier and domestic volumes fell 4%. Adjusted earnings came in at $0.69 a share. The food maker reaffirmed its full-year forecast for adjusted earnings of $2.51 to $2.67 per share and said it still expects organic net sales to decline between 1.5% and 3.5% in 2025, signalling confidence that cost controls and product mix shifts will offset softer volumes. The results arrive as management weighs a break-up of the company, including a possible spin-off of slower-growing grocery staples such as Velveeta and Oscar Mayer that could be valued at up to $20 billion, people familiar with the deliberations have said. A separation would effectively unwind parts of the $45 billion 2015 mega-merger that created the combined group and seeks to unlock greater value by letting the faster-growing sauces and meals division stand alone. Analysts say the strategic review underscores pressure on Kraft Heinz to reignite growth after its shares lost roughly two-thirds of their value since the merger, even as cost-conscious consumers shift to private-label alternatives. The company, whose board no longer includes representatives of major shareholder Berkshire Hathaway, did not specify a timeline for a decision on the spin-off but emphasised that all options remain on the table.